FRENCH FINANCE
OUTLAY OF ARMS
MINISTER'S WARNING POSITION MUST BE FACED (United Press Assn.—Elec. Tel. Copyright) PARIS, Dec. 28 ‘ We are determined to draw up a new national balance-sheet after the first quarter of 1939, declared M. Reynaud, the French Finance Minister, defending the budget before the Senate. He added: "Drastic expenditure cuts and a higher production of revenue arc vitally necessary, France cannot continue her present scale of living and arm herself.
"The iniiltary expenditure in 1939 will be £230,000,000 and our obligations from the Great War are still £85,000,000. We are going to see thousands of millions of francs thrown into the abyss of national defence, but can be satisfied when, despite this it has taken 18 months to build a submarine compared with Germany's eight months. It is imperative to work more productively we desire to improve the position.”
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Bibliographic details
Waikato Times, Volume 123, Issue 20691, 29 December 1938, Page 7
Word Count
142FRENCH FINANCE Waikato Times, Volume 123, Issue 20691, 29 December 1938, Page 7
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